New Gold Inc. (NYSE:NGD) Shares Acquired by Oxbow Advisors LLC

Oxbow Advisors LLC lifted its holdings in shares of New Gold Inc. (NYSE:NGD) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 277,000 shares of the company’s stock after buying an additional 4,624 shares during the period. Oxbow Advisors LLC’s holdings in New Gold were worth $687,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp boosted its position in shares of New Gold by 5.0% during the third quarter. Van ECK Associates Corp now owns 73,884,631 shares of the company’s stock worth $215,743,000 after buying an additional 3,541,882 shares during the period. JGP Global Gestao de Recursos Ltda. lifted its position in New Gold by 27.8% in the fourth quarter. JGP Global Gestao de Recursos Ltda. now owns 6,500,000 shares of the company’s stock worth $16,120,000 after purchasing an additional 1,412,003 shares during the period. Two Sigma Advisers LP lifted its position in New Gold by 18.7% in the third quarter. Two Sigma Advisers LP now owns 4,322,930 shares of the company’s stock worth $12,450,000 after purchasing an additional 681,822 shares during the period. BNP Paribas Financial Markets lifted its position in New Gold by 9,360.7% in the third quarter. BNP Paribas Financial Markets now owns 2,692,614 shares of the company’s stock worth $7,755,000 after purchasing an additional 2,664,153 shares during the period. Finally, National Bank of Canada FI lifted its position in New Gold by 22.9% in the third quarter. National Bank of Canada FI now owns 2,374,142 shares of the company’s stock worth $6,844,000 after purchasing an additional 442,527 shares during the period. 42.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NGD. Scotiabank upped their target price on New Gold from $3.50 to $4.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. StockNews.com upgraded New Gold from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, New Gold has a consensus rating of “Buy” and a consensus price target of $3.60.

New Gold Price Performance

NYSE NGD opened at $2.82 on Friday. The stock has a market capitalization of $2.23 billion, a P/E ratio of 21.69 and a beta of 1.36. New Gold Inc. has a 1 year low of $1.10 and a 1 year high of $3.25. The business’s fifty day moving average is $2.77 and its two-hundred day moving average is $2.75. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.42.

New Gold Profile

New Gold Inc, an intermediate gold mining company, develops and operates of mineral properties in Canada. It primarily explores for gold, silver, and copper deposits. The company’s principal operating properties include 100% interest in the Rainy River mine located in Northwestern Ontario, Canada; and New Afton project situated in South-Central British Columbia.